Saudi Arabia’s Al Rajhi Bank, the world’s largest Islamic lender, is turning to the ringgit-denominated debt market for its debut sukuk sale to fund the opening of new branches in Malaysia.
The Riyadh-based bank was considering the issuance as it planned a 20% increase in annual profits in the country by adding to 23 existing outlets, Azrulnizam Abdul Aziz, chief executive officer of Al Rajhi’s Malaysian unit, said in an interview...............................................Full Article: Source